Abo purchased a truck at the beginning of 2018 for
$140,000. they sold the truck at the end of...
Business, 05.11.2019 03:31 zamudioj92p80d12
Abo purchased a truck at the beginning of 2018 for
$140,000. they sold the truck at the end of 2019 for
$95,000. if the expected useful life of the truck was six
years with a residual value of $20,000 and abo uses
straight‐line depreciation, which of the following is true
regarding the entry to record the sale of the truck?
a. credit gain $5,000.
b. debit loss $5,000.
c. credit accumulated depreciation $40,000.
d. credit equipment $100,000.
Answers: 2
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